New York-based $EL's CEO Fabrizio Freda said in FY16 the company expects its online sales from its brand sites and retailer sites to top $1MM for the first time. He added that it will represent a doubling of the business in just three years.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.
$BDX agreed to buy $BCR. About $300MM of annual, pre-tax, run-rate cost synergies are expected by FY20. $BDX also expects to benefit from revenue synergies beginning in FY19. This is expected to improve $BDX's gross margins by about 300 basis points in FY18, increase $BDX's EPS growth trajectory to the mid-teens, and generate strong cash flow.
$KMB said that on interest
expense for FY17, the company expects it to come down slightly. The decline is
expected as the company has a refinancing this year along with a bond that is
coming due for $950MM in Aug. 2017. Additionally, regarding share repurchases,
$KMB is expecting to do between $0.8-1Bil worth of share repurchases in FY17.
$HRS was awarded a 5-year $875MM ceiling, multi-award IDIQ contract by the U.S. Air Force for cryptographic and information assurance products, including support throughout their lifecycles. The contract was awarded to seven companies during the third quarter of Harris' fiscal 2017.
$BDX agreed to buy $BCR. $BCR common shareholders will be entitled to receive about $222.93 in cash and 0.5077 shares of $BDX stock per $BCR share, or a total of value of $317.00 per $BCR common share. This will be immediately accretive and is expected to generate high-single digit accretion to adjusted EPS in FY19.